Santiment Identifies 3 Altcoins with “Significant Surge in Network Activity, Potential Bullish Movement”
The cryptocurrency analysis firm Santiment has highlighted the remarkable increase in network activity for three altcoins in its latest report.
Santiment analysts have identified Pepe (PEPE), Fetch AI (FET), and Ethereum Name Service (ENS) as experiencing substantial spikes in their network growth simultaneously. The number of newly created wallets for all three altcoins has seen a significant surge.
According to Santiment, an increase in the number of new addresses being created may indicate either a fear of missing out (FOMO) due to rising prices or a potential bullish movement in the market.
However, the sudden rise in wallet numbers for ENS is attributed to FOMO caused by increasing prices. On the other hand, FET is undergoing a significant token merger with two other artificial intelligence-themed altcoins, which is also contributing to the increase in wallet numbers. Analysts anticipate high volatility for FET leading up to its planned merger date with OCEAN and AGIX on July 15, 2024.
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